Gaming and Leisure Properties, Inc. $GLPI Shares Purchased by Lasalle Investment Management Securities LLC

Key Points

• Lasalle Investment Management Securities increased its GLPI stake by 17% in the second quarter, purchasing 334,933 shares to own 2.31 million shares worth approximately $102.8 million. Institutional investors collectively hold 91.14% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $49.91, although several brokerages recently lowered targets or maintained neutral ratings.
• GLPI shares opened at $43.55, near the lower end of their 12-month range, while the REIT reported quarterly EPS of $0.80 and revenue of $430.5 million, up 9% year over year.

Lasalle Investment Management Securities LLC boosted its stake in Gaming and Leisure Properties, Inc. (NASDAQ:GLPI - Free Report) by 17.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,309,247 shares of the real estate investment trust's stock after buying an additional 334,933 shares during the quarter. Gaming and Leisure Properties makes up about 3.7% of Lasalle Investment Management Securities LLC's holdings, making the stock its 8th biggest position. Lasalle Investment Management Securities LLC owned about 0.79% of Gaming and Leisure Properties worth $102,831,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of GLPI. SHP Wealth Management acquired a new position in shares of Gaming and Leisure Properties in the fourth quarter worth $30,000. International Assets Investment Management LLC acquired a new stake in shares of Gaming and Leisure Properties during the fourth quarter valued at $31,000. Essential Partners LLC boosted its stake in shares of Gaming and Leisure Properties by 38.2% during the first quarter. Essential Partners LLC now owns 868 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 240 shares during the last quarter. Blue Trust Inc. purchased a new stake in Gaming and Leisure Properties during the 1st quarter worth about $40,000. Finally, Persistent Asset Partners Ltd purchased a new stake in Gaming and Leisure Properties during the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 91.14% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GLPI. Morgan Stanley boosted their target price on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lowered their price target on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an "overweight" rating for the company in a report on Tuesday, June 30th. UBS Group set a $49.00 price objective on shares of Gaming and Leisure Properties in a research note on Thursday, June 18th. Wells Fargo & Company decreased their target price on shares of Gaming and Leisure Properties from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 15th. Finally, Cantor Fitzgerald lowered their target price on shares of Gaming and Leisure Properties from $52.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday, August 10th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Gaming and Leisure Properties has a consensus rating of "Moderate Buy" and an average price target of $49.91.

Insiders Place Their Bets

In related news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $48.32, for a total value of $144,960.00. Following the transaction, the director owned 127,429 shares in the company, valued at approximately $6,157,369.28. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Earl C. Shanks purchased 10,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $42.24 per share, with a total value of $422,400.00. Following the transaction, the director owned 107,259 shares of the company's stock, valued at $4,530,620.16. This trade represents a 10.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 4.11% of the stock is owned by company insiders.

Gaming and Leisure Properties Trading Down 0.4%

NASDAQ GLPI opened at $43.55 on Friday. Gaming and Leisure Properties, Inc. has a 12 month low of $41.17 and a 12 month high of $49.95. The company has a 50-day moving average of $44.30 and a 200-day moving average of $46.05. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.74 and a quick ratio of 4.74. The company has a market cap of $12.67 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.82 and a beta of 0.66.

Gaming and Leisure Properties (NASDAQ:GLPI - Get Free Report) last released its earnings results on Thursday, July 30th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Gaming and Leisure Properties had a net margin of 59.01% and a return on equity of 19.17%. The business had revenue of $430.52 million for the quarter, compared to analysts' expectations of $428.51 million. During the same period last year, the company earned $0.96 earnings per share. The company's quarterly revenue was up 9.0% on a year-over-year basis. Gaming and Leisure Properties has set its FY 2026 guidance at 4.100-4.120 EPS. As a group, equities analysts predict that Gaming and Leisure Properties, Inc. will post 4.03 earnings per share for the current year.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc NASDAQ: GLPI is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company's core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source